As at 1 January 2025, a new classification system for business activities, known as NACE’25 will replace the current NACE’08 system, impacting how businesses are categorised.
What does this mean for your company?
Review your company’s activities to ensure they are correctly classified under the new NACE codes (NACE’25). These codes will be automatically registered into public registries by 31 January 2025 at the latest. If your company’s activities are split into multiple NACE’25 codes, there will be no automatic registration. You must notify the Hungarian Tax Authority by 1 July 2025 at the latest to ensure correct registration. If you disagree with the NACE’25 codes automatically assigned to your company’s activities, you can request a change at the Hungarian Tax Authority by 1 July 2025 at the latest.
What is your new NACE code (NACE’25)?
The Hungarian Central Statistical Office (“KSH”) developed a transcoder programme, available here. In case of doubt, companies can request an official statement from the KSH. Amendment of articles of association The companies’ articles of association will need updating in line with the new NACE codes (NACE’25). Relevant filings to this effect can be submitted to the court of registry along with other changes in corporate data, or separately, without any procedural fee and publication cost.
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New NACE Codes introduced for companies as at 1 January 2025 in Hungary
As at 1 January 2025, a new classification system for business activities, known as NACE’25 will replace the current NACE’08 system, impacting how businesses are categorised. What does this mean for your company? Review your company’s activities to ensure they are correctly classified under the new NACE codes (NACE’25). These codes will be automatically registered […]...
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